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Kingsland Plaza

23525 Kingsland Blvd, Katy, TX 77494

Listing Price: $2,932,000

Cap Rate
6.35%
Gross SF
7,923
Rentable SF
7,923
Price/Gross SF
$370.06
Lot Size
0.94 acres
Year Built
2015

Investment Overview

The subject property is a 7,923 Square Feet building leased to two tenants. The building was constructed in 2015 and is located in dynamic Katy, Texas. The property is situated just west of the Grand Parkway and south of IH-10. The parking ratio is 5.5/1,000.

Trendmaker Homes Inc occupies approximately 73 percent of the space and is scheduled to open in February 2020. Trendmaker was founded in Dallas in 1971. It moved to Houston after parent Weyerhaeuser Real Estate Company sold its Dallas operations. Tri Pointe Group (NYSE: TPH) is the parent company of Trendmaker. This location is a Trendmaker Design Center for homebuyers who wish to select interior finishes to customize their homes.

The other tenant, Premier Performance, provides therapy for spine and joint rehabilitation.

All leases are NNN whereby CAM, real estate taxes, insurance and management fees are reimbursed by the tenants. Trendmakers primary lease term is for ten years. However, they have the right to terminate at the end of six years, with six month notice.

Surrounding demographics are strong. AHHI is approximately $130,000 within a 1-3-5 mile radius. Within a 3 mile radius, the population is approximately 105,000.

*There was no deferment of rent by either tenant during 2020

Investment Highlights

  • All Leases NNN
  • Trendmaker Homes Inc Has a 10-year Lease
  • AHHI $130,000 Within a 1-3-5 Mile Radius
  • Located Near Intersection of I-10 and Grand Parkway

Exclusively Listed By

Listing Price: $2,932,000

Cap Rate
6.35%
Gross SF
7,923
Rentable SF
7,923
Price/Gross SF
$370.06
Lot Size
0.94 acres
Year Built
2015

Investment Highlights

  • All Leases NNN
  • Trendmaker Homes Inc Has a 10-year Lease
  • AHHI $130,000 Within a 1-3-5 Mile Radius
  • Located Near Intersection of I-10 and Grand Parkway

Investment Overview

The subject property is a 7,923 Square Feet building leased to two tenants. The building was constructed in 2015 and is located in dynamic Katy, Texas. The property is situated just west of the Grand Parkway and south of IH-10. The parking ratio is 5.5/1,000.

Trendmaker Homes Inc occupies approximately 73 percent of the space and is scheduled to open in February 2020. Trendmaker was founded in Dallas in 1971. It moved to Houston after parent Weyerhaeuser Real Estate Company sold its Dallas operations. Tri Pointe Group (NYSE: TPH) is the parent company of Trendmaker. This location is a Trendmaker Design Center for homebuyers who wish to select interior finishes to customize their homes.

The other tenant, Premier Performance, provides therapy for spine and joint rehabilitation.

All leases are NNN whereby CAM, real estate taxes, insurance and management fees are reimbursed by the tenants. Trendmakers primary lease term is for ten years. However, they have the right to terminate at the end of six years, with six month notice.

Surrounding demographics are strong. AHHI is approximately $130,000 within a 1-3-5 mile radius. Within a 3 mile radius, the population is approximately 105,000.

*There was no deferment of rent by either tenant during 2020

Exclusively Listed By

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